The company’s management board also decided to close the
Duisburg-based unit by year-end as it is no longer economically
viable, according to a statement late yesterday.

The reserves will be “reflected in the annual financial
report as of March 31,” which is scheduled to be reported on
May 30, the company said. “From today´s perspective, this
reserve will cover all costs related to the closure of rail
production in Duisburg, as well as all risks associated with the
antitrust proceedings.”

The Austrian steelmaker, led by Chief Executive Officer
Wolfgang Eder, said last year that it was the whistle-blower in
a German investigation over possible antitrust violations in the
railway steel market. While the company has said that it expects
to be exempt from any fines because of its whistle-blower
status, this wouldn’t excuse it from civil law claims.